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KIBO ENERGY PLC - Renewal of Water Permits for MCPP to retain EIA Certification

Release Date: 11/09/2019 08:00
Code(s): KBO     PDF:  
 
Wrap Text
Renewal of Water Permits for MCPP to retain EIA Certification

Kibo Energy PLC (Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO
Share code on the AIM: KIBO
ISIN: IE00B97C0C31
(“Kibo” or “the Company”)

Dated: 11 September 2019

                          Kibo Energy PLC (‘Kibo’ or the ‘Company’)
                  Renewal of Water Permits for MCPP to retain EIA Certification


Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce a status
update on the Water Rights of the Mbeya Coal to Power Project (“MCPP”) in Tanzania.


The Company was informed by its Tanzanian subsidiary, Mbeya Power Ltd, that its Water Rights,
acquired during August 2018, were successfully renewed ahead of schedule. This ensures that the
MCPP EIA certification remains valid and maintains the right to use large quantities of water, a strategic
commodity for the MCPP, specifically by the Power Station.


Louis Coetzee, CEO of Kibo, commented, “I am very encouraged by the overall progress being made
at MCCP. The renewal of the Water Permits, so soon after the recent approval and processing of seven
Mining Rights for the Project, further confirms my confidence in its potential and I look forward to
updating shareholders as we continue to successfully advance its development.”

                                               **ENDS**

For further information please visit www.kibo.energy or contact:

  Louis Coetzee            info@kibo.energy           Kibo Energy PLC            Chief Executive Officer
                                                                                Corporate and Designated
 Andreas Lianos           +27 (0) 83 4408365             River Group
                                                                                     Adviser on JSE
 Jason Robertson         +44 (0) 20 7374 2212        First Equity Limited              Joint Broker
Andrew Thomson             +61 8 9480 2500          RFC Ambrian Limited             NOMAD on AIM
 Isabel de Salis /                                                                 Investor and Media
                         +44 (0) 20 7236 1177       St Brides Partners Ltd
  Beth Melluish                                                                     Relations Adviser


Notes
Kibo Energy PLC is a multi-asset, Africa focused, energy company positioned to address the acute
power deficit, which is one of the primary impediments to economic development in Sub-Saharan
Africa. To this end, it is the Company’s objective to become a leading independent power producer in
the region.


Kibo is simultaneously developing three similar coal-fuelled power projects: the Mbeya Coal to Power
Project (‘MCPP’) in Tanzania; the Mabesekwa Coal Independent Power Project (‘MCIPP’) in Botswana;
and the Benga Independent Power Project (‘BIPP’) in Mozambique. By developing these projects in
parallel, the Company intends to leverage considerable economies of scale and timing in respect of
strategic partnerships, procurement, equipment, human capital, execution capability / capacity and
project finance.


Additionally, the Company has a 60% interest in MAST Energy Developments Limited (‘MED’), a
private UK registered company targeting the development and operation of flexible power plants to
service the Reserve Power generation market.

Johannesburg
11 September 2019
Corporate and Designated Adviser
River Group

Date: 11/09/2019 08:00:00
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